AskMen's Parents Reveal What They Wished They Knew Before Their First Kid

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9. Children Entitle You To Major Tax Savings

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It used to be the only way you could make money off of your children was by sending them into the coal mines. But now, thanks to the IRS, your children allow you to qualify for some very valuable tax savings — a notable hidden benefit of having children. According to one recently published study, the average family can save $3,500 per year simply by claiming child tax credits, education credits, and child- and dependent-care credits. “These tax credits shouldn’t spur you to have a child,” says U.S. tax attorney Roni Deutch, “but since the projected cost of raising a child to the age of 18 is just shy of $200,000, parents need all the help they can get.”